Apparel industry thanks Textile Minister on ITC refund issue

The Apparel Export Promotion Council (AEPC) recently welcomed the GST Council’s decision to allow input tax credit refund, a long-pending demand of the textile industry, and thanked Union Textiles Minister Smriti Irani for taking up the issue. In a letter to Irani, AEPC Vice-Chairman A Shaktivel thanked her on behalf of the apparel industry for her “splendid support” toward reviving the industry. The Minister had successfully taken up the issue of ITC Refund with GST Council, which has now agreed for the long standing demand, he said. These initiatives would help revival of the apparel sector and to become competitive globally, he added. The GST Council met and took various decisions including cutting tax rates on 88 items such as footwear, refrigerator.